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| Exchange Disseminated Time | Vindhya Telelinks Ltd has informed BSE that the members at the 28th Annual General Meeting (AGM) of the Company held on September 07, 2011, inter alia, have transact to the following:
1. Adoption of the Audited Balance Sheet of the Company as at March 31, 2011, the Profit & Loss Account and Cash Flow Statement for the year ended on that late together with the Directors’ Report (including the Annexures attached thereto) and Auditors’ Report thereon.
2. Re-appointment of Shri S. K. Misra, as a Director of the Company, liable to retire by rotation.
3. Re-appointment of Shri Pracheta Majumdar, as a Director of the Company, liable to retire by rotation.
4. Re-appointment of Messrs V. Sankar Aiyar & Co., Chartered Accountants, as the Statutory Auditors of the Company to hold office from the conclusion of this Meeting until the conclusion of the next Annual General Meeting (AGM) of the Company, on remuneration, terms & conditions.
5. In modification of the earlier resolution passed at the Eighteenth Annual General Meeting of the Company held on June 08, 2001, save and except things done or omitted to be done before such modification, the consent of the Company be and is hereby accorded to the Board of Directors of the Company, under Section 293(1)(d) and other applicable provisions, if any, of the Companies Act, 1956, to borrow any sum or sums of money in any manner from time to time at its discretion for the purpose of business of the Company, with or without security and upon such terms and conditions as it may deem fit, notwithstanding that the money or moneys to be borrowed together with the moneys already borrowed by. the Company (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided however that the total amount so borrowed by the Board of Directors and outstanding at any time shall not exceed the sum of Rs. 1600 crores (Rupees One thousand six hundred crores only).
6. In modification of the earlier resolution passed at the Eighteenth Annual General Meeting held on June 08, 2001, save and except things done or omitted to be done before such modification, the consent of the Company be and is hereby accorded to the Board of Directors of the Company under Section 293(1)(a) and other applicable, provisions, if any, of the Companies Act, 1956, to mortgage and/or create charge(s) on all or any of the immovable and movable properties or such assets of the Company, wherever situate, both present and future, or the whole or substantially the whole of the undertaking of the Company on such terms and conditions and at such time or times and in such form or manner as the Board of Directors may think fit, together with power to enter upon and take possession of the assets of the Company in certain events, for securing debentures, any loan and/or advances including credit facilities already obtained or that may be obtained from banks, financial institutions or trustees for the debenture holders or other person or persons together with interest/additional interest, further interest, compound interest, liquidated damas, commitment charges, premia on prepayment or on redemption costs, charges, expenses and other moneys including any increase as a result of devaluation/revaluation/fluctuation in exchange rate of foreign currency involved, payable by the Company to the concerned lenders within the overall limit of Rs. 1600 crores (Rupees One thousand six hundred crores only). The security as aforesaid by way of mortgage and/or charge(s) may rank pari-passu with, or second, or subservient to, the mortgages and/or charges already created or to be created by the Company or in such manner as may be agreed to between the concerned parties and as may be thought expedient by the Board of Directors of the Company. |
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